The Bank of Ghana (BoG) has clarified that existing rules on foreign exchange withdrawals remain unchanged, as it moves to clear up any confusion on the matter.

In a public notice issued on Thursday, May 15, the apex bank stressed that over-the-counter (OTC) cash withdrawals in foreign currency from Foreign Exchange Accounts (FEA) and Foreign Currency Accounts (FCA) are still permitted. "For non-FEA and non-FCA account holders, forex purchases for travel outside Ghana are allowed but capped at US$10,000 or its equivalent per person per trip," the bank added.

Such transactions must be backed by a valid passport, visa, and confirmed travel ticket, as previously stated in BoG Notice BG/GOV/SEC/2014/09.

The notice also confirmed that cheques and cheque books may continue to be issued on both FEA and FCA accounts.